Principal Financial Group Inc. Buys 20,035 Shares of Jackson Financial Inc. $JXN

Key Points

• Principal Financial Group increased its stake in Jackson Financial by 6.2% in the first quarter, buying 20,035 additional shares and bringing its total holding to 344,040 shares worth about $36.4 million.
• Analyst sentiment on JXN has improved overall, with Jefferies upgrading the stock to buy and Barclays raising its target price; the stock currently carries a Moderate Buy consensus and an average target of $126.40.
• Jackson Financial shares were up slightly and traded near their 52-week high at $125.95, while the company also paid a quarterly dividend of $0.90 per share, equal to a 2.9% annualized yield.

Principal Financial Group Inc. lifted its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 6.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 344,040 shares of the company's stock after acquiring an additional 20,035 shares during the quarter. Principal Financial Group Inc. owned approximately 0.49% of Jackson Financial worth $36,372,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Allworth Financial LP boosted its position in Jackson Financial by 404.0% during the third quarter. Allworth Financial LP now owns 252 shares of the company's stock valued at $26,000 after purchasing an additional 202 shares during the last quarter. Rothschild Investment LLC increased its position in shares of Jackson Financial by 79.9% during the 4th quarter. Rothschild Investment LLC now owns 322 shares of the company's stock worth $34,000 after purchasing an additional 143 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of Jackson Financial during the 4th quarter worth approximately $35,000. Advisory Services Network LLC acquired a new stake in shares of Jackson Financial in the 3rd quarter valued at approximately $37,000. Finally, Employees Retirement System of Texas acquired a new stake in shares of Jackson Financial in the 3rd quarter valued at approximately $38,000. Institutional investors own 89.96% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Jackson Financial from a "hold" rating to a "buy" rating and boosted their target price for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Wall Street Zen cut shares of Jackson Financial from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Jackson Financial from $125.00 to $130.00 and gave the company a "market perform" rating in a research report on Monday, July 13th. Weiss Ratings lowered shares of Jackson Financial from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, May 12th. Finally, Barclays upped their target price on shares of Jackson Financial from $136.00 to $139.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $126.40.

Jackson Financial Stock Up 0.2%

JXN stock opened at $125.95 on Friday. Jackson Financial Inc. has a 1-year low of $82.65 and a 1-year high of $126.69. The business's 50 day simple moving average is $109.14 and its 200 day simple moving average is $110.28. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $8.78 billion, a PE ratio of -20.61 and a beta of 1.32.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial's payout ratio is -58.92%.

Jackson Financial Profile

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company's core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.

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